The fines were imposed by the Securities and Exchange Board of India (Sebi) between 2017 and 2019 for violating provisions of securities market norms.
The pending dues — a little over Rs 1 crore– include the initial fine amount, interest and a recovery cost.
In seven attachment notices issued during October 13-15, Sebi asked banks and depositories not to allow any debit from the accounts of these eight defaulters. However, credits have been permitted.
Further, the capital markets watchdog has directed the banks to attach all accounts, including lockers, held by the defaulters.
The regulator said there is sufficient reason to believe that the defaulters may dispose of the amounts in the bank accounts and securities in the demat accounts and “realisation of amount due under the certificate would in consequence be delayed or obstructed”.